Samsung Electronics Company Assignment:Framework for Executing Strategy

Samsung Electronics Company

Assignment:Framework for Executing Strategy

Learning Outcomes

Upon successful completion of this week, the student will be able to: Read the questions posed in the Key Points for theWeek 2 Overview. Answering these questions will help you complete this assignment

1. Prepare a strategic vision for a company.

2. Develop a plan to communicate the vision to all company employees.

3. Determine a company's financial objectives.

4. Establish a company's strategic intent.

Introduction

Historically, executing a company's strategy has been one of the most neglected components of the entire strategy-making and strategy-using process. In this phase, the strategic plan (with its vision, defined goals and action steps) must be integrated into the everyday life of the organization. It is also in this phase that actual performance results begin to manifest themselves. The organization must continue to accomplish the actions and activities necessary to ensure short-term survival while simultaneously engaging in the actions and activities associated with achieving the strategic plan. This integration requires a delicate balance of priorities between meeting immediate survival needs and taking the action necessary for long-term success.

Successful strategic plan execution becomes challenging during change initiation and management. Individual organizational members who may not have been involved in the formulation of the strategic plan now will be required to support and execute it. Funding and physical resources need to be located and supplied. Long-standing systems, structures, and procedures also may need to be altered to make the plan work.

The outcome of "strategic execution" is subject to unforeseen external and internal factors. For example, while plan implementation is underway, contingencies may emerge such as unanticipated entry of a major competitor, an environmental disaster, or the loss of a key decision maker. The best of plans, poorly executed, still can produce disastrous results. Therefore, planning a strategic "execution" requires as much care and consideration as creating the strategic plan itself.

Key Points @ Action Items

Create a framework for executing strategy for your company. Write a 1½- to 2-page draft business brief thatConsider the following question when developing a vision and strategic intent. Each of the following questions should be addressed with your GLO-BUS co-managers to establish the way forward in the simulation.

1. When you meet with your co-managers, prepare a strategic vision statement for your company. It should be at least one sentence long and no longer than a brief paragraph. What would be a good slogan that captures the essence of your strategic vision and that could be used to help communicate the vision to company personnel, shareholders, and other stakeholders?

2. What are your company's financial objectives? What are your company's strategic objectives?

3. How would you describe your company's strategic intent?

4. What are the 5-6 most important elements of your company's strategy in entry-level and multi-featured cameras? Have any of these strategy elements been fine-tuned or radically changes since the Year 6 decision round when you and your co-managers first took over the company and assumed strategy-making responsibility?

Points Earned At the graduate level, the emphasis in grading is on the content, context and/or process of assignments.	Points for Expected Graduate Performance Assignment Meets All Requirements	Points for Superior Graduate Performance Assignment Significantly Exceeds Requirements
Strategic Vision Statement (~33%) Strategic vision statement and communication plan for the company employees.	12 - 13	15
Financial and Strategic Objectives (~33%) Developed realistic financial and strategic objectives.	12 - 13	15
Strategic Intent (~33%) Created a sound strategic intent based on the financial and strategic objectives.	12 - 13	15
Subtotal (points earned before any applicable deductions)	37 - 38	45
Points Deducted Error-free mechanics and meeting stated format criteria are the baseline expectations for assignments. Points will be deducted for failing to meet these requirements.
Mechanics (~ -24%) Correct grammar, sentence structure, and word choice were used; the paper was free of typographical and spelling errors; Brief formatted correctly.	up to -11
Total (points earned minus any applicable deductions)	0 - 45